Woodline Partners LP Has $22.81 Million Position in Workiva Inc. $WK

Woodline Partners LP grew its stake in shares of Workiva Inc. (NYSE:WK) by 3,386.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 300,513 shares of the software maker’s stock after buying an additional 291,894 shares during the period. Woodline Partners LP owned approximately 0.54% of Workiva worth $22,812,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Skandinaviska Enskilda Banken AB publ raised its position in shares of Workiva by 8.7% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 2,825 shares of the software maker’s stock valued at $214,000 after buying an additional 225 shares during the last quarter. Xponance Inc. raised its position in shares of Workiva by 6.7% during the first quarter. Xponance Inc. now owns 3,850 shares of the software maker’s stock valued at $292,000 after buying an additional 241 shares during the last quarter. Bessemer Group Inc. raised its position in shares of Workiva by 109.2% during the first quarter. Bessemer Group Inc. now owns 567 shares of the software maker’s stock valued at $43,000 after buying an additional 296 shares during the last quarter. SVB Wealth LLC acquired a new position in shares of Workiva during the first quarter valued at about $26,000. Finally, Farther Finance Advisors LLC raised its position in shares of Workiva by 705.9% during the first quarter. Farther Finance Advisors LLC now owns 411 shares of the software maker’s stock valued at $31,000 after buying an additional 360 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Workiva Trading Down 5.0%

Shares of Workiva stock opened at $77.29 on Wednesday. The stock has a market capitalization of $4.33 billion, a price-to-earnings ratio of -64.41 and a beta of 0.87. Workiva Inc. has a 1-year low of $60.50 and a 1-year high of $116.83. The firm’s 50-day moving average price is $73.42 and its two-hundred day moving average price is $73.37.

Workiva (NYSE:WK) last announced its earnings results on Thursday, July 31st. The software maker reported $0.19 EPS for the quarter, topping the consensus estimate of $0.05 by $0.14. The business had revenue of $215.19 million for the quarter, compared to the consensus estimate of $208.92 million. Workiva’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.16 EPS. Workiva has set its FY 2025 guidance at 1.310-1.380 EPS. Q3 2025 guidance at 0.370-0.410 EPS. As a group, equities research analysts predict that Workiva Inc. will post -0.92 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Stifel Nicolaus dropped their price target on shares of Workiva from $100.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, August 1st. Raymond James Financial dropped their price target on shares of Workiva from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, August 1st. Robert W. Baird set a $105.00 price target on shares of Workiva in a research report on Wednesday, June 25th. Citigroup reissued a “buy” rating and issued a $105.00 price target (down previously from $108.00) on shares of Workiva in a research report on Wednesday, July 16th. Finally, Wall Street Zen raised shares of Workiva from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Nine analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Workiva has a consensus rating of “Buy” and an average price target of $99.22.

About Workiva

Workiva Inc, together with its subsidiaries, provides cloud-based reporting solutions in the United States and internationally. The company offers Workiva platform, a multi-tenant cloud software that provides data linking capabilities; audit trail services; administrators access management; and allows customers to connect data from multiple enterprise resource planning, human capital management, and customer relationship management systems, as well as other third-party cloud and on-premise applications.